PNG Copper Inc. announced a brokered private placement of 2,000,000 units at an issue price of CAD 0.05 for gross proceeds of CAD 100,000 on August 16, 2022. Each unit consists of one class A common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of CAD 0.07 per share for a period of five years from the date of issuance.

The securities issued are subject to a statutory hold period expiring four months and one day four months from the date of closing.